image.jpegOur wallets are full of new, shiny credit cards with an embossed chip in the middle. It’s supposed to be the latest and greatest technology to prevent fraud, but some are already falling apart.

Credit card chip checkout hassle

Chip cards are the latest technology to prevent fraud. A single use code is created to make the transaction more secure. It’s a needed change with rampant credit card fraud.

While consumers are not responsible for credit card fraud, victims still have to change all their automatic debits. It takes time once the bank sends you a new card. It’s frustrating become sometimes you are making the changes every few months.

When banks sent out the new chip credit cards, they came with a new number. This meant updating your accounts once again. That’s one problem with the new chip cards.

The learning curve is the other chip card problem.  Don’t pull it out of the machine too fast or you’ll have to start your order over. Patience. It’s a virtue. Patience. Just a little more patience. Ok now you can pull out that chip card. It feels like an eternity at the checkout counter. What happened to speedy checkouts?

Other consumers report chip cards getting stuck in card reader machines.

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Chip credit cards falling apart

Then, there’s the durability of the chip credit cards. The picture above is from a woman in West Palm Beach.

Chase says the chips are falling out of the new chip cards on a small number of cards. The bank says every month it happens to about 10 customers out of the 60 million Chase chip card users.

I’m all about security and preventing fraud and I hope these cards are the answer. I don’t know about you but I’m tired of constantly changing my credit card numbers after a fraud incident. I went to a big box retailer to locate a receipt the other day for a return, and I had to bring four different card numbers to them to try to locate the receipt. That’s how often my card changed in the last year or so. That’s crazy!

So I’m all about steps the banks can take to prevent fraud. However, it seems the companies making these chip cards have some work to do. Chips should not be falling out of cards just a few months into the use of them. I don’t care if the incident rate is 10 out of 60 million cards. Ten is too many. The chip should stay inside.

Chase tells me that there is not a security risk if the chip falls out. Chip technology works with a single use code that’s created in the background when you check out. The bank says the card won’t work if the chip and the metal plate it sits against are not in tact. Time will tell on whether that’s the case. I’m sure the thieves are already working on ways to exploit the technology as they always do.

For now, check your cards closely before you use them. Look for any wear and tear around the chip. Make sure the sides are not lifting up. You don’t want to be one of the 10 in 60 million that have your chip fall out of your card.

Moving forward, banks are making changes to improve the chip card experience.